Growth investor Bregal Sagemount has reached a $2bn target for its latest private-equity fund, holding a first close at that level so it can begin investing from the vehicle, according to people familiar with the matter.
The New York-based firm expects to wrap up fundraising for the vehicle, Bregal Sagemount IV LP, at its upper limit of $2.5 billion by the end of July, the people said. That would make the latest fund more than 66% larger than its predecessor, which closed with $1.5 billion in 2020.
The firm is also preparing to start fundraising for its third credit opportunities vehicle, people familiar with the matter say.
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Bregal Sagemount is a growth-focused private capital firm with $3.5 billion in committed capital. Founded in 2012, the firm provides flexible capital and strategic assistance to market-leading companies in high-growth sectors across a wide variety of transaction situations.
Bregal Sagemount invests $40 million to $150 million per transaction into both control and non-control positions and will make equity and/or junior debt investments. Targeted sectors include software, digital infrastructure, healthcare IT services, business and consumer services, and financial technology / specialty finance.
Bregal Sagemount is part of Bregal Investments, a global private equity investment firm with investment teams based in New York, London, Munich and Dallas, managing commitments on behalf of multiple limited partners. Bregal Investments is an operating company of COFRA, a privately held group of companies headquartered in Europe which also include a global fashion retail business (C&A) and real estate business (Redevco).
Bregal Investments’ funds specialize in private equity buy-outs, special situations, credit, energy and private equity fund investing. The firm focuses on transforming and growing businesses for future success, with its funds focusing on longer-term value creation. Bregal was founded in 2002 and has grown extensively since then, with approximately $16 billion invested to date.
Source: Wall Street Journal
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